Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its position in Marathon Petroleum Corporation (NYSE:MPCFree Report) by 8.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 121,641 shares of the oil and gas company’s stock after selling 11,733 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Marathon Petroleum were worth $17,722,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after purchasing an additional 1,178 shares during the period. Sigma Planning Corp increased its stake in Marathon Petroleum by 12.0% during the 4th quarter. Sigma Planning Corp now owns 11,486 shares of the oil and gas company’s stock valued at $1,602,000 after buying an additional 1,227 shares during the period. Wealthspire Advisors LLC lifted its stake in shares of Marathon Petroleum by 5.2% in the 4th quarter. Wealthspire Advisors LLC now owns 6,938 shares of the oil and gas company’s stock worth $968,000 after acquiring an additional 344 shares during the period. Howard Capital Management Inc. boosted its holdings in shares of Marathon Petroleum by 0.5% in the fourth quarter. Howard Capital Management Inc. now owns 23,300 shares of the oil and gas company’s stock valued at $3,250,000 after acquiring an additional 118 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Marathon Petroleum by 3.8% during the fourth quarter. IFP Advisors Inc now owns 5,021 shares of the oil and gas company’s stock worth $700,000 after purchasing an additional 186 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.9%

NYSE:MPC opened at $168.93 on Monday. The stock has a market cap of $51.90 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 3.34 and a beta of 0.89. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The stock’s 50-day moving average is $151.77 and its two-hundred day moving average is $146.81.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.15%. Marathon Petroleum’s dividend payout ratio is 51.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MPC shares. Wells Fargo & Company increased their price target on Marathon Petroleum from $180.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday, June 11th. TD Cowen raised their target price on Marathon Petroleum from $152.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Morgan Stanley dropped their price target on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Piper Sandler reduced their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Wall Street Zen upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.80.

Check Out Our Latest Report on Marathon Petroleum

About Marathon Petroleum

(Free Report)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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